The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1887-12-15
RAILROAD MEETING.
Directors and Incorporators, on
the Part of Austin.

the Part of Austin.
A number of prominent citizens of
Austin met last night in the hail of the
Musical union to take further action to
promote the Austin & McGregor railroad.
Hon. E. I. Moore presided, and Mr.. Geo.
2. Warner acted as secretary.
The president called upon Mr.. A. P.
Woodbridge, as one familiar with the pro-
ceedings at previous meetings, to explain
the objects of the present meeting.
This Mr.. Woodbridge did, quito in detail.
He stated how the proposed charter for
the company had been sent around from
one to another of the points interested in
the road. 1t had already been acted upon
at some of the towns between Austin and
McGregor, and would be returned to Aus
tin for completion by the action of the
Austin people. He had ascertained that
the cost of fling charter for railroad
of one million dollars capital, wodld be
1926, apportioned upon the same basis as
the allotment made of incorporates.
This would require 1927 from each of
the small towns, $54 each from
Georgetown and Bolton, and $1OS
from Austin, so that $10S was the actual
cash requested for that purpose, SO far as
Austin Is concerned, to procure the
charter. He reported the receipt of 1927
from Round Rock, and certificate of de-
pesit of $3.50 as the per centum of Round
Rocks subscription of $1,000 to the cap
ital stock of the company, which was in
accordance with the form which had been
adopted for subscriptions as follows:
The STATE OF rEXAs, COUNTY OF -
fhn trnL an,s ,h1ars H., oE
shares of the capital stock of tho Austin & Nc
GregOr Railroad company, set opposite our Names
the par value OF which stock is one hundred IS COY
dollars per share; 1t is hereby expressly stipu-
lated and agreed by and between the subscribers
hereto as the basis of this contra that this stock
subscription is absolutely non-negetiab and I'M
aasigna6le without the express written consent
thereto of all of the subscriber And in the event
the Austin 81 McGregC railroad lie sold or trans
terred to any person, firm or corporation, no part
OF the unpaid capital stock herein subscribed Is to
be called in, but the subscribers absolutely and
Internationally released therefrom.
1t is further expressly stipulated, agreed and
made part and the very essence of
this contract that no assessment or
here subscribed. beyond the 5 per cent, now
paid or to be paid, shall be ever assessed or be
liable to be assessed without the unanimous consent
thereto of all the subscribers to this instrument
The special purpose of this meeting
was to select three directors and eight in
corporators on the part of Austin.
The presidents: "How will you make
the selection?"
Mr.. Castleman, in response to the ques-
ton, suggested the appointment of a
committee of five to suggest suitable per
sons to the meeting for the incorporators
and made motion accordingly, which
was adopted
General Handy moved to amend by
adding that the committee also suggest
names for the directors.
The motion, with amendment, was
adopted, and the committee retired and
shortly reported as follows:
For directors-Joseph Male, W. II.
Tobin and Walter Tips.
For misrepresentation Hancock, DIR.
NJ. A. Taylor, DR.. R. j. Breckenridge,
Frank Hamilton, E. Saunders, A. T. Nc
Kean, John Orr and r. M. Castleman.
The above gentlemen were all elected by
the adoption of the report of the COM
mittee.
Mr.. Cunningham moved that the same
committee be empowered to fill any va
cancies occurring in the list elected.
Adopted, and on further motion, the
meeting adjourned.